New cryptocurrency cash machine opens in Zimbabwe, now over 2500 worldwide

Whilst many governments still try and figure out whether cryptocurrencies are a good or bad thing, the authorities of Zimbabwe are looking on them more favourably. Zimbabwe has struggled with the heavy inflation that faces its own economy, to the point where it’s switched to US dollars. Inflation in Zimbabwe topped out at just such of 80 billion percent back in 2009.

Now, though, currencies such as Bitcoin and Litecoin are seen as potential options to help restore some confidence in the Zimbabwean economy, and with that in mind, the cryptocurrency exchange Golix has installed a brand new ATM in Harare.

It’s not the first cryptocurrency ATM in the world, with existing terminals already in Zimbabwe and Djibouti. Furthermore, as Coin ATM Radar shows, there are over 2700 elsewhere on the planet, across 67 countries and growing.

Each one that’s installed is a baby step towards growing consumer confidence in the legitimacy of cryptocurrencies, of course. And in areas of the world where traditional banking systems have severely let people down, restoring that confidence is no small task…